Babcock confident of strong progress

FTSE 100 engineering support services company, Babcock said it has traded well in the interim period from October to date and remains confident of meeting expectations for the year.

FTSE 100 engineering support services company, Babcock said it has traded well in the interim period from October to date and remains confident of meeting expectations for the year.

The group added that market conditions remain positive, with bidding activity high across the group, making it confident of delivering strong progress on last year.

The Marine and Technology division performed in line with its expectations as did Defence and Security.

The Support Services division also performed in line with company expectations, with contracts won in the period totalling in excess of £100m.

Its International division did well, despite the extended holiday period in South Africa over December, with good demand for equipment and plant hire.

The order book stands at just over £12bn from around £12.5bn at the time of its half year results in November 2012.

"Babcock remains well positioned to help our customers develop cost efficient support solutions and we believe the current economic climate will continue to create significant medium and long-term growth opportunities, both in the UK and overseas," it said in a statement.

"The scale of our order book continues to provide excellent visibility of future revenue streams across the group. This position is further strengthened by the medium to long-term growth opportunities which continue to flow into tracking and then into the bid pipeline."

CJ

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Here’s why you really should own at least some bitcoin
Bitcoin

Here’s why you really should own at least some bitcoin

While bitcoin is having a quiet year – at least in relative terms – its potential to become the default cash system for the internet is undiminished, …
16 Sep 2020
Will a second wave of Covid lead to another stockmarket crash?
Stockmarkets

Will a second wave of Covid lead to another stockmarket crash?

Can we expect to see another lockdown like in March, and what will that mean for your money? John Stepek explains.
18 Sep 2020
James Ferguson: How bad data is driving fear of a second wave of Covid-19
UK Economy

James Ferguson: How bad data is driving fear of a second wave of Covid-19

Merryn and John talk to MoneyWeek regular James Ferguson about the rise in infections in coronavirus and what the data is really telling us.
17 Sep 2020